20 October 2025,03:14
Chart The Market
20 October 2025, 03:14
ETH, H4:
Ethereum has executed a technically significant move, breaking decisively above its lower-high structure and the key downtrend resistance line at the $3,875 mark. The subsequent 4% gain from this breakout provides initial confirmation of a potential bullish trend reversal, suggesting a shift in market structure.
The immediate focus now shifts to the next critical resistance at the $4,075 level. A convincing break and hold above this threshold would serve as a strong bullish signal, likely confirming the reversal and opening a path toward higher price targets.
The bullish case is supported by a notable improvement in momentum indicators. The Relative Strength Index (RSI) has climbed above its mid-point, indicating growing buying pressure. Simultaneously, the Moving Average Convergence Divergence (MACD) is exhibiting a higher-low pattern and is poised for a crossover above its zero line. This confluence suggests the prior bearish momentum is vanishing and being replaced by building bullish impetus. The upcoming test of the $4,075 resistance will be the true litmus test for this nascent recovery.
Resistance Levels: 4075.00, 4330.00
Support Levels: 3865.00, 3600.00
USDJPY, H4
The USDJPY pair has relinquished the majority of its previous gains and is now approaching a significant technical feature: the gap that was created during its prior gap-up move. According to classical technical theory, such price imbalances often act as magnets, increasing the probability that the pair extends its current downtrend to fully fill the gap.
The bearish technical structure remains intact. Despite a minor technical rebound, the pair has failed to surpass its recent high, confirming that it continues to trade within a defined bearish trajectory.
This outlook is reinforced by momentum indicators, which point to the emergence of a fresh bearish cycle. The Relative Strength Index (RSI) remains depressed near oversold territory, reflecting persistent selling pressure. Concurrently, the Moving Average Convergence Divergence (MACD) has crossed below its zero line, signaling that bearish momentum is now dominant on a broader timeframe. The convergence of the unfilled gap and bearish momentum suggests the pair is vulnerable to further declines.
Resistance Levels: 154.70, 158.60
Support Levels: 146.35, 143.35
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